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BUILDING COSTS
(Overall rates per m2 excl. VAT)
Third Quarter 2014 - Gauteng Region
The following information is provided to indicate the current square meter costs of a range of basic or common buildings in the industry. The rates are approximate and can vary according to the circumstances of the project. Rates should be used with extreme caution. Descriptions are abbreviated and if information is not stated specifically, the lowest industry standard specification is implied. The rates include preliminaries but exclude external works, escalation to start and during construction, professional fees and finance costs.
(Overall rates per m2 excl. VAT)
Third Quarter 2014 - Gauteng Region
The following information is provided to indicate the current square meter costs of a range of basic or common buildings in the industry. The rates are approximate and can vary according to the circumstances of the project. Rates should be used with extreme caution. Descriptions are abbreviated and if information is not stated specifically, the lowest industry standard specification is implied. The rates include preliminaries but exclude external works, escalation to start and during construction, professional fees and finance costs.
Office Developments
Underground parking basements including foundation R 4 500 - 5 000
Commercial office park development on basement (with AC) R 7 200 - 9 000
Prestigious office development on basements R11 000 - 16 000
External works services and landscaping for low rise developments R 2 500 - 3 000
Retail Developments
Value centre type retail R 5 700 - 7 500
Convenience strip shopping centre R 7 200 - 8 800
Regional shopping centre with enclosed malls R10 500 - 16 000
External works paving and services R 2 800 - 3 200
Industrial Developments
Warehousing with 6 m height (over 2 000 m2) including ablutions R 4 500 - 5 500
Medium duty factory building with 8 m height (over 2 000 m2) R 4 800 - 5 700
Attached office buildings (no AC) R 6 300 - 7 500
External works, pavings and services R 2 500 - 3 000
Residential Developments
GASH housing by Contractor/Developer R 6 200 - 8 400
Duplex houses/apartments R 8 400 - 9 800
Luxury (cluster) houses R10 500 - 12 200
Retirement centres R 8 500 - 10 000
External works and services R 2 500 - 3 000
Leisure Developments
Thatched game lodge accommodation per m2 R10 600 - 12 500
Budget type hotels per room R 1 750 000
Luxury hotels per room R 4 200 000
External works and landscaped environment per m2 R 3 200 - 3 800
Underground parking basements including foundation R 4 500 - 5 000
Commercial office park development on basement (with AC) R 7 200 - 9 000
Prestigious office development on basements R11 000 - 16 000
External works services and landscaping for low rise developments R 2 500 - 3 000
Retail Developments
Value centre type retail R 5 700 - 7 500
Convenience strip shopping centre R 7 200 - 8 800
Regional shopping centre with enclosed malls R10 500 - 16 000
External works paving and services R 2 800 - 3 200
Industrial Developments
Warehousing with 6 m height (over 2 000 m2) including ablutions R 4 500 - 5 500
Medium duty factory building with 8 m height (over 2 000 m2) R 4 800 - 5 700
Attached office buildings (no AC) R 6 300 - 7 500
External works, pavings and services R 2 500 - 3 000
Residential Developments
GASH housing by Contractor/Developer R 6 200 - 8 400
Duplex houses/apartments R 8 400 - 9 800
Luxury (cluster) houses R10 500 - 12 200
Retirement centres R 8 500 - 10 000
External works and services R 2 500 - 3 000
Leisure Developments
Thatched game lodge accommodation per m2 R10 600 - 12 500
Budget type hotels per room R 1 750 000
Luxury hotels per room R 4 200 000
External works and landscaped environment per m2 R 3 200 - 3 800
ESCALATION FORECASTING
Pre-contract escalation
This is escalation prior to the start of a building on site. It is related to competitive building rates and monitored nationally by the BER (Bureau of Economic Research)
Monthly projected pre-building cost escalations
Third quarter % increase per month - 2014 1.00%
Fourth quarter % increase per month 1.00%
Pre-contract escalation
This is escalation prior to the start of a building on site. It is related to competitive building rates and monitored nationally by the BER (Bureau of Economic Research)
Monthly projected pre-building cost escalations
Third quarter % increase per month - 2014 1.00%
Fourth quarter % increase per month 1.00%
Escalation during construction
This is escalation during the construction period and usually monitored by the BCAC Haylett indices published by JBCC
Monthly projected during building cost escalations
Third quarter - % increase per month - 2014 0.80%
Fourth quarter - % increase per month 0.90%
This is escalation during the construction period and usually monitored by the BCAC Haylett indices published by JBCC
Monthly projected during building cost escalations
Third quarter - % increase per month - 2014 0.80%
Fourth quarter - % increase per month 0.90%